The "Zero Point Purchase Indicator" represents the 30 year fixed rate closest to zero points. The 30 year fixed mortgage is the most common program selected by borrowers when purchasing a home. The rate and apr provided are based on a $300,000 loan amount with at least 25% down and assumes a fairly high credit score.
In todays post lending crises of 2009 lending environment rates are all calculated using a risk-based method. This means that your rate will likely be higher if you have a low credit score or if you have a small down-payment. Also, rates often change two or more times per day. For these reasons it is virtually impossible to provide you with an accurate interest rate from a web site posting. The Zero Point Purchase Indicator is intended to give borrowers a relative rate and is not intended as a rate quote. Your actual rate will likely be slightly lower or higher than the indicator.
